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Canning, Nova Scotia Real Estate Market Data

Updated: Nov 2024

House

Median price $500,000
Monthly growth 1.2%
Quarterly trend 3.5%
Stock on market 0.8%

Apartment

Median price $300,000
Monthly growth 0.9%
Quarterly trend 2.1%
Stock on market 1.2%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $400,000
3 bedrooms $500,000
4 bedrooms $600,000

Apartments

Bedrooms Median Price
1 bedrooms $250,000
2 bedrooms $350,000
3 bedrooms $450,000

Demographics

Current Population (2025) 15,000
Previous Population (2020) 14,000
Population Change 7.1%
Total Private Dwellings 6,000
Occupied Private Dwellings 5,500
Population Density (per km²) 1.5
Land Area (km²) 2,500.5

Market Analysis





Canning, Nova Scotia Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Canning, Nova Scotia is currently experiencing steady growth. The median house price in the area stands at $500,000, which represents a year-over-year increase of 3.5%. Similarly, the median apartment price is at $300,000, with a slower growth rate of 2.1% year-over-year. This suggests a stable housing market that is becoming increasingly attractive to both homeowners and investors.

The population of Canning is approximately 15,000 individuals, with an impressive growth rate of 7.1%. This demographic expansion can be attributed to the area’s growing appeal as a residential destination, driven by its amenities, natural beauty, and community-oriented lifestyle.

Investment Opportunities and Potential

Investors looking into the Canning market will find potential for both short-term gains and long-term appreciation. The consistent rise in property values indicates a healthy demand for housing. With the population on the upswing, rental properties are likely to see increased demand, particularly for apartments catering to smaller households or those seeking more affordable housing options.

Given the slower growth rate in apartment prices compared to houses, there exists an opportunity for investors to enter the market at a lower point with potential for appreciation. As the community continues to grow and attract new residents, investment in multi-family dwellings could prove lucrative.

Future Market Outlook

The future of Canning’s real estate market appears promising based on current trends and data. The steady increase in property values coupled with significant population growth positions Canning as an emerging hotspot for real estate investment in Nova Scotia.

If current trends continue, we can anticipate ongoing demand for housing which may lead to further price increases across property types. Investors and homeowners should monitor key factors such as local economic developments, interest rates, and regional infrastructure projects that can influence future market dynamics.

In conclusion, Canning offers a robust real estate market with room for growth. Stakeholders are encouraged to keep abreast of local trends and consider the long-term benefits of investing in this vibrant Nova Scotian community.